§ Mr. LawsTo ask the Chancellor of the Exchequer what his estimate is of the net cost of the Royal Mint in each of the last 10 years; and if he will make a statement. [91713]
§ Ruth KellyThe Royal Mint is a Trading Fund and Self Financing Public Corporation. As such, it is structured so that it does not have a net cost to the Exchequer provided it is able to maintain a reasonable level of commercial performance.
§ Mr. LawsTo ask the Chancellor of the Exchequer what his estimate is of the market value of the Royal Mint; and if he will make a statement. [91714]
§ Ruth KellyAny Government estimate of the market value of the Mint would be commercially confidential. Exemption 13 of the Code of Practice on Access to Government Information applies.
§ Mr. LawsTo ask the Chancellor of the Exchequer what reasons underlie his policy that the Royal Mint should be in the public sector; and if he will make a statement. [91715]
§ Ruth KellyThe last review of the Royal Mint in 1998–99 looked at many different options for the Mint, including privatisation. The review concluded that it would not be appropriate to privatise the Mint at the time because of Mint's large change programme; the Treasury's customer relationship with Mint; and uncertainties in the market place, particularly relating to euro coinage.
The next review of the Mint will be in 2003–04. Every option remains on the table.